4 percent more in total taxes expected for Elburn

Village portion of individual property bills could dropby Martha Quetsch
ELBURNâ€”Because of minimal expected property growth, Elburn’s total 2009 property taxes likely will be less than the village is requesting in its proposed levy.

The village of Elburn is proposing a levy of $742,317. That amount is 18.12 percent higher than the total 2008 Elburn property taxes.

â€œThe village intentionally sets its annual levy requests on the high side to make sure it captures all new property growth,â€ Assistant Village Administrator David Morrison said during Monday’s Finance Committee meeting.

Because of the state’s tax cap, if the village did not propose a levy high enough to capture all new construction, the growth would not be added to the tax rolls.

â€œWe have to ask for the max to cover ourselves,â€ Village President Dave Anderson said.

Currently, the village’s equalized assessed valuation with growth from new construction is uncertain. The final levy approved this spring by the county will be based on actual new growth and total EAV. Last year’s EAV growth was 7.62 percent, and village officials said it likely will be lower for 2009.

â€œWe will probably get about $654,000 (as a final levy amount),â€ Morrison said.

That sum is about 4 percent more than total village taxes in 2008.

Under that scenario, village’s tax rate would drop to .30 from .31, Morrison said. The lower rate would result in a $9 reduction in village property taxes for the owner of home with an EAV of $83,250 (from $261 to $252).

The Village Board will discuss the levy request at 7 p.m. Monday, Nov. 16, and hold a public hearing on the proposed levy at 6:45 p.m. Monday, Dec. 7.

Following the hearing, the board will forward the levy request to county.